Gas prices down for the second month

Looks like the fears of a summer gas price surge weren’t all too founded. Gas prices are down seven cents over the past two week sustaining the drop for the last two months.

The Lundberg Survey, which monitors gas prices in the US, cites that the average price of a gallon of self-serve at the pumps is $2.52.

The survey pegs the lowering crude oil prices at the world market to be the driver of the pump prices. Demand is down over the past two months.

The lowest gas can be found in St. Louis, Missouri at $2.16 and the highest is in Anchorage, Alaska at $3.29.

Typically, summer prices rise due to increased travel, however the recession and the continuing unemployment has greatly affected US demand on the consumer level.

Source: CNN

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